Buying an ATM Machine for Your Business

If you are looking for additional ways to generate revenue within your traditional brick-and-mortar business, then perhaps you should consider the profitable opportunity associated with buying ATM machines to install within your location. Here are several points to consider if you are looking for a legitimate revenue stream or are somewhat skeptical about getting involved with ATMs.

How Exactly Do You Make Money?

Most people know that you usually use an ATM to take money out of the machine. This is usually why most business owners are skeptical about how exactly they can make money from these machines with such a substantial amount of money that goes out of these machines on any typical day. Keep in mind that the cornerstone of your revenue stream is the transactional fee that you will charge each customer for simply using your machine. In most cases, this fee ranges between $2 and $4 per transaction.

By buying ATM machines instead of leasing or renting them, you will get to pocket the entire transaction fee instead of paying additional processing fees. However, even if you decide to partner with a ATM company or service provider, you would still be able to walk away with between $0.50 and $2 from each paid transaction fee. With the right amount of foot traffic heading toward your ATM machine on any given day, you should be able to clearly see how the income will exponentially increase over time from this machine.

What Do You Have to Pay for an ATM?

Since you now have an idea of how much money you can expect to receive from an ATM, how much exactly should you expect to pay out to get an ATM in your business in the first place? Studies have shown that you can purchase an operational ATM for an average of $2,250 – such as the GENMEGA 2500 model. However, if you want to step up the quality of your investment, you should consider investing in a high-end model – which would typically cost an average of $3,500. In most cases, the high-end models come with integrated security thanks to their electronic safe locks and advanced efficiency through the installation of a 15” color LCD touchscreen.

Do Not Forget about the Added Expenses

As is the case with any type of technology or machinery, you should always consider more than just the one-time purchase of the equipment. As a business owner, you must also consider the ongoing expenses that must be paid as well to keep the ATM in action. For instance, it is highly recommended to have a minimum of $2,000 in the machine at all times with an increased amount available on the weekends or during the busiest times of your workweek. In addition, you should also invest in ATM insurance that covers damage, theft, connection expenses and applicable processing costs.

If you do not have the money needed to cover all of these expenses on your own, you should consider setting up an ATM partnership or placement through a franchise or established provider that can meet you halfway and take a cut of your profit as a service fee.